Pkrevenue.com

Author: Hamza Shahnawaz

  • Karachi Chamber demands declaring rain emergency

    Karachi Chamber demands declaring rain emergency

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has demanded the government of declaring an emergency after human and financial losses in the city during torrential rains in past few days.

    READ MORE: KCCI demands release of stuck up containers

    KCCI President Muhammad Idrees in statement urged Prime Minister Shehbaz Sharif to take immediate measures to prevent further human and financial losses in the city as more rains had been predicted.

    Idrees lamented the present situation in Karachi after heavy downpour especially during the past 24 hours. He said the provincial and local authorities had failed to relief and take measures to control the flooding like situation.

    READ MORE: KCCI demands implementation of Riba free banking

    “The city collects about 70 per cent revenue for the national exchequer. But the present situation has created insecurity amongst the people of the metropolis,” he said.

    “The Wall Street of Pakistan i.e. I. I. Chundrigar Road is completely vanished due to flooding. Besides, the old city area were also showing disaster everywhere,” he added.

    The KCCI President urged the Prime Minister to announce compensation to the losses and also grant duty and tax relief for the business community.

    READ MORE: KCCI appeals rescuing small traders in Catch-22 situation

    He pointed out that there was no allocation in the budget 2022/2023 for the financial hub. He further pointed out that the previous government had allocated around Rs1.1 trillion for the city but no development project was seen.

    Idrees demanded the federal government to take control of the city and provide maximum relief to avoid further losses in expected rains.

    READ MORE: Energy price hike jolts trade, industry: Businessmen Panel

  • Foreign currency rates in Pak Rupee – July 11, 2022

    Foreign currency rates in Pak Rupee – July 11, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on July 11, 2022 (The rates are updated at 01:10 PM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)139.86141.10
     Bahrain Dinar (BHD)548.93553.43
     Canadian Dollar (CAD)158.05159.40
     China Yuan (CNY)30.7230.97
     Danish Krone (DNK)28.4628.81
     Euro (EUR)213.55217.55
     Hong Kong Dollar (HKD)26.0826.43
     Indian Rupee (INR)2.592.67
     Japanese Yen (JPY)1.471.51
     Kuwaiti Dinar (KWD)671.70676.70
     Malaysian Ringgit (MYR)46.3746.82
     NewZealand $ (NZD)126.79127.99
     Norwegians Krone (NOK)20.7621.06
     Omani Riyal (OMR)536.79541.29
     Qatari Riyal (QAR)56.2256.72
     Saudi Riyal (SAR)54.5055.30
     Singapore Dollar (SGD)146.86148.16
     Swedish Korona (SEK)19.7720.07
     Swiss Franc (CHF)213.04214.79
     Thai Bhat (THB)5.946.04
     U.A.E Dirham (AED)55.7056.50
     UK Pound Sterling (GBP)248.10251.10
     US Dollar (USD)206.10209.60

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    READ MORE: Foreign currency rates in Pak Rupee – July 10, 2022

  • Pakistani Rupee to US Dollar on July 11, 2022

    Pakistani Rupee to US Dollar on July 11, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 11, 2022:

    Buying: Rs 206.10 to the US Dollar

    Selling: Rs 209.60 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 01:04 PM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    READ MORE: Pakistani Rupee to US Dollar on July 10, 2022

  • Pakistani Rupee to UAE Dirham on July 11, 2022

    Pakistani Rupee to UAE Dirham on July 11, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on July 11, 2022:

    Buying: Rs 55.70 to the UAE Dirham

    Selling: Rs 56.50 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 12:57 PM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    READ MORE: Pakistani Rupee to UAE Dirham on July 10, 2022

  • Pakistani Rupee to UK Pound Sterling on July 11, 2022

    Pakistani Rupee to UK Pound Sterling on July 11, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on July 11, 2022:

    Buying: Rs 248.10 to the UK Pound Sterling

    Selling: Rs 251.10 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 12:51 PM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    READ MORE: Pakistani Rupee to UK Pound Sterling on July 10, 2022

  • Pakistani Rupee to Euro on July 11, 2022

    Pakistani Rupee to Euro on July 11, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on July 11, 2022:

    Buying: Rs 213.55 to the Euro

    Selling: Rs 217.55 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 12:47 PM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    READ MORE: Pakistani Rupee to Euro on July 10, 2022

  • Pakistani Rupee to Saudi Riyal on July 11, 2022

    Pakistani Rupee to Saudi Riyal on July 11, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on July 11, 2022:

    Buying: Rs 54.60 to the Saudi Riyal

    Selling: Rs 55.40 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 12:44 PM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    READ MORE: Pakistani Rupee to Saudi Riyal on July 10, 2022

  • Proposal of final tax regime for commercial importers rejected

    Proposal of final tax regime for commercial importers rejected

    KARACHI: The National Assembly of Pakistan has rejected a proposal to grant final tax regime for commercial importers.

    The proposal was made part of Finance Bill, 2022 under which the government proposed to bring commercial importers under the ambit of final tax regime.

    READ MORE: Mechanism revamped for tax dispute resolution

    Previously, PTI government after consultation with manufacturers and other stakeholders brought the importers into minimum tax regime through Finance Act, 2019.

    The importers were brought into the minimum tax regime after arguments that the importers were misusing the tax incentives as the final tax regime was not subject to audit and returns. The importers are required to file a statement only under the FTR.

    The Finance Bill, 2022 proposed to make amendment in sub-section 7 of Section 148 of the Income Tax Ordinance, 2001 to substitute the word ‘minimum’ with the word ‘final’.

    However, the national assembly rejected the proposal of final tax regime for commercial importers is withdrawn. Consequently, commercial importers will remain under minimum tax regime.

    READ MORE: Simplified tax regime for shopkeepers implemented

    Tax experts at PwC A. F. Ferguson & Co. said that previously, in case of goods imported by an industrial undertaking for own use, the advance tax on imports did not constitute minimum tax if the same were subjected to advance tax collection at 1 per cent or 2 per cent.

    There were various items which were in the nature of raw material but were subjected to standard rate of 5.5 per cent.

    READ MORE: Pakistan withdraws tax amnesties for industrial promotion

    The tax authorities were misinterpreting these provisions to deny the adjustability of tax collected at 5.5 per cent.

    This regime has been amended and now the advance tax on raw materials imported by an industrial undertaking for own use will not be minimum tax irrespective of the applicable rate.

    However, advance tax on import of following items will be treated as minimum tax in respect of income arising from such imports:- a) Edible oil; b) Packaging material; c) Paper and paper board; or d) Plastics.

    READ MORE: Pakistan expands tax exemptions under foreign treaties

  • Foreign currency rates in Pak Rupee – July 10, 2022

    Foreign currency rates in Pak Rupee – July 10, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on July 10, 2022 (The rates are updated at 09:02 AM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)139.86141.10
     Bahrain Dinar (BHD)548.93553.43
     Canadian Dollar (CAD)158.05159.40
     China Yuan (CNY)30.7230.97
     Danish Krone (DNK)28.4628.81
     Euro (EUR)213.55217.55
     Hong Kong Dollar (HKD)26.0826.43
     Indian Rupee (INR)2.592.67
     Japanese Yen (JPY)1.471.51
     Kuwaiti Dinar (KWD)671.70676.70
     Malaysian Ringgit (MYR)46.3746.82
     NewZealand $ (NZD)126.79127.99
     Norwegians Krone (NOK)20.7621.06
     Omani Riyal (OMR)536.79541.29
     Qatari Riyal (QAR)56.2256.72
     Saudi Riyal (SAR)54.5055.30
     Singapore Dollar (SGD)146.86148.16
     Swedish Korona (SEK)19.7720.07
     Swiss Franc (CHF)213.04214.79
     Thai Bhat (THB)5.946.04
     U.A.E Dirham (AED)55.7056.50
     UK Pound Sterling (GBP)248.10251.10
     US Dollar (USD)206.10209.60

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    READ MORE: Foreign currency rates in Pak Rupee – July 09, 2022

  • Pakistani Rupee to US Dollar on July 10, 2022

    Pakistani Rupee to US Dollar on July 10, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 10, 2022:

    Buying: Rs 206.10 to the US Dollar

    Selling: Rs 209.60 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 08:57 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    READ MORE: Pakistani Rupee to US Dollar on July 09, 2022